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Google creates new parent company

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(Last Updated On: August 11, 2015)

Move to place businesses under new firm Alphabet to allow reporting of results of diversified operations separately.

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Google, the US technology company, is reorganising under a new moniker – Alphabet – in a move underscoring its founders’ ambitions to pursue ventures far beyond the company’s internet search core, from self-driving cars to cutting-edge medical research.

It will still use the Google name for its popular internet search engine, mapping service and related products.

However, Larry Page, Google’s CEO and co-founder, said on Monday the creation of the new holding company will provide more independence for divisions like Nest, which makes internet-connected home appliances, and Calico, which is researching ways to prolong human life.

Analysts said the move may also be an attempt to satisfy Wall Street’s demands for more fiscal accountability: As part of the reorganisation, Page said the company will begin reporting financial results by segments.

Google reported more than $14bn in profit on $66bn in sales last year, most of it from lucrative internet advertising, while other ventures have required large investments without showing immediate returns.

The company’s stock has surged in recent weeks after a new chief financial officer announced other moves to rein in corporate spending.

Rise of Sundar Pichai

The reorganisation cements the rise of Sundar Pichai, a longtime Google executive, who will become CEO for the core Google business.

Page will be CEO of the new holding company, with his co-founder Sergey Brin serving as president.

Google’s executive chairman, Eric Schmidt, will have the same title at Alphabet.

“Sundar has been saying the things I would have said (and sometimes better!) for quite some time now,” Page wrote in a blog post announcing the changes.

Pichai, 43, who was named overall chief of Google products last autumn, is viewed by many as a potential successor to Page.

Pichai was part of the team that launched the Chrome browser in 2008 and also worked on various search products, including Google Toolbar, Desktop Search, Gadgets and Google Gears, according to the company.

Before joining Google, Pichai worked as an engineer at manufacturer Applied Materials, followed by a stint in management consulting at McKinsey & Company.

Originally from Tamil Nadu province in southeast India, Pichai received a B Tech from the Indian Institute of Technology (IIT) Kharagpur.

He also has a Master of Science from Stanford University and a Master of Business Administration from the Wharton School of the University of Pennsylvania.

More authority

With the reorganisation, Page indicated that he wants to give more authority to CEOs of the companies that will be part of the new entity known as Alphabet.

“Our company is operating well today, but we think we can make it cleaner and more accountable,” he wrote.

“We believe this allows us more management scale, so we can run things independently that aren’t very related.”

Businesses that will operate separately under the Alphabet umbrella include Calico, which Google established to conduct health research in 2013; Nest, which Google acquired in 2014; Fiber, which is building high-speed broadband networks in several cities; and the Google X, the research lab responsible for Google’s self-driving car venture and previously developed its controversial Internet headset, known as Glass.

Alphabet will also oversee Google Ventures and Google Capital, two corporate investment entities that focus on early- and growth-stage start-ups.

Google’s YouTube video division, however, will remain part of the core business under Pichai, although Page made a point of praising its chief, Susan Wojcicki, another longtime ad executive.

Written by: Aljazeera

Source: Agencies

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Bayat Foundation provides much needed food parcels to Balkh residents

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(Last Updated On: October 24, 2021)

Hundreds of poverty-stricken families in Mazar-e-Sharif, the capital of Balkh province, were given food parcels on Sunday in a drive by the organization to help desperate families ahead of winter.

Committed to helping the hungry, Bayat Foundation has so far sent hundreds of packages that include rice, flour and oil, to the destitute in Kandahar, Herat and now Balkh.

According to foundation officials, they are working as fast as possible to provide the essential food items to people before winter sets in.

“The Bayat Foundation continues to provide assistance to the deserving and displaced people. We have already distributed aid to people in Kandahar and Herat and today we have distributed in Mazar-e-Sharif,” said Haji Mohammad Ismail, Deputy Chairman of the Bayat Foundation.

Bayat Foundation has carried out comprehensive assessments in these areas to identify recipients in urgent need of help.

“Based on the Bayat Foundation’s survey results, we are distributing foodstuff for really deserving people,” said Yafes Saqeb, Head of Bayat Foundation in Balkh.

Recipients of the food parcels welcomed the foundation’s initiative and said a large percentage of local families are facing serious financial problems.

“People don’t have food. We welcome their assistance and want them to continue their help,” said Abdul Ghafar, a resident.

“In this dangerous time that people are living in, hungry, we really welcome the assistance. We want them to continue with this assistance,” said Mohammad Baqer, another resident.

“There is no work. Women have problems, and can’t leave [their homes]. We are grateful to them and hope they carry on helping us,” said Shakela, another resident.
Bayat Foundation officials have said they will continue to provide food parcels and hope to reach as many people across the country.

Hundreds of thousands of Afghan families are desperate amid a looming humanitarian crisis following the abrupt end to foreign financial aid and the freezing of Afghanistan’s assets by the US.

Families have been hit hard by the unexpected withdrawal of foreign organizations, diplomatic missions as well as the withdrawal of US troops.

Together these entities employed hundreds of thousands of people both directly and indirectly – people who now have no income. In addition to this, the 300,000 former security force members, who were paid by the US, are also now unemployed and penniless.

Afghanistan’s winters are particularly harsh, and given the collapsing economy, Afghans are extremely worried about what lies ahead.

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MoD to form a new, independent national army

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(Last Updated On: October 24, 2021)

Afghan Ministry of Defense (MoD) officials said Saturday that they will establish a new army that is independent in order to defend Afghanistan’s territory and airspace.

Mullah Mohammad Yaqoob, acting minister of defense and son of Mullah Mohammad Omar, founder of the Islamic Emirate of Afghanistan (IEA), said in a voice clip on Sunday that efforts are being made to safeguard Afghanistan’s territory and airspace.

“We intend to create a national and independent army under MoD to defend the country with high values. We will attempt to equip the IEA army with modern weapons. The army should have ground and airspace capabilities,” said Mullah Yaqoob.

The acting minister assured the international community and countries in the region that no one will be allowed to use Afghanistan terrority to carry out attacks against them.

“Countries in the world know that an army is impossible without foreign assistance. The world should help Afghanistan in this regard,” said Mohammad Sarwar Naizai, a military analyst.

The caretaker minister did not however provide further details about how the IEA will finance the army or whether it will include soldiers from the former government.

The previous Western-backed government paid the salaries of the then soldiers with money from the United States. On August 15, when former president Ashraf Ghani and all his top officials fled the country, the US and NATO-trained army and airforce disintegrated within hours.

The same day, IEA forces rolled into Kabul and took over as the new rulers. However, the foreign donor community and the US immediately cut off financial aid to Afghanistan and froze all the central bank’s foreign reserves – cutting off salaries to hundreds of thousands of former soldiers and government workers.

Some IEA officials meanwhile said that former government soldiers will be brought back into the army.

“We have left the way open for those people who were in security institutions in the former government. Some of them have returned already,” said Qari Saeed Khosti, spokesman for the Ministry of Interior Affairs.

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Pakistan denies reports it struck deal with US on Afghanistan operations

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(Last Updated On: October 24, 2021)

Pakistan’s foreign ministry denied a media report which claimed that the two countries are “nearing a formalised agreement” to give Washington access to Pakistan’s airspace for operations in Afghanistan.

Pakistan has denied it struck a deal to allow the US to use its airspace for military and intelligence operations in neighboring Afghanistan.

“No such understanding is in place,” Foreign Ministry spokesperson Asim Iftikhar said in a statement on Saturday in response to media reports.

“Pakistan and the US have longstanding cooperation on regional security and counterterrorism and the two sides remain engaged in regular consultations.”

Pakistan Prime Minister Imran Khan said earlier this year that “there is no way we are going to allow any bases, any sort of action from Pakistani territory into Afghanistan. Absolutely not.”

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